ChainCatcher news, according to official sources, Fuel Labs has announced the upcoming launch of the native token FUEL for the Fuel network, with an initial total supply of 10 billion tokens, of which 20% will be allocated to the community.FUEL will be used to secure the decentralized sequencer of Fuel and reduce user gas fees by introducing an application-specific sorting-based economic incentive structure. The launch is expected to take place within the next two weeks, and Fuel will also expand the community through the Fuel Points program Phase 2 and collaborations with Legion, Impossible Finance, and Bitget.

ChainCatcher news, Ethereum modular execution layer developer Fuel Labs announced the upcoming launch of the Hybrid Proving solution FuelProver. FuelProver is a fusion of Optimistic and ZK, capable of supporting all the latest general Provers, while also reducing withdrawal windows and achieving high throughput. FuelProver will initially use a single Prover, with the aim of evolving into a multi-Prover model to enhance correctness. FuelProver intends to support various proving mechanisms, including Risc Zero, zkSync, Powdr, and more.Previous report, in September 2022, Fuel Labs announced the completion of an $80 million financing round, led by Blockchain Capital and Stratos Technologies.

ChainCatcher news, Ethereum modular execution layer developer Fuel Labs announced the Sway language upgrade content to be implemented in 2023, including compiler optimizations regarding bytecode size, Sway will support more backends (EVM backend is already in development), abstractions will be more economical, more applications will migrate from Solidity/Vyper to Sway, and improved compiler-level reentrancy analysis, etc. (source link)

Chain Catcher News, Ethereum modular blockchain Fuel developer Fuel Labs has launched the Fuel Grants Program, which will provide grants ranging from $10,000 to $150,000 to developers and creators based on Fuel. The specific categories include protocol development, applications and integrations, infrastructure, developer tools, audits, community (marketing and education), events, and hackathons. (Source link)

Chain Catcher news, Ethereum modular blockchain developer Fuel Labs has launched "beta-1," the first modular execution layer Fuel testnet aimed at developers. Developers can freely deploy contracts without permission or whitelisting, and users can interact with the deployed contracts. At the same time, it states that beta-1 is not an incentivized testnet, and participation in interactions will not yield direct rewards.Chain Catcher previously reported that this week, Fuel Labs announced the completion of $80 million in financing, led by Blockchain Capital and Stratos Technologies, with participation from Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic, and ZMT. (source link)